§ 45-2-5.1 - Westerly municipal land trust. - Rhode Island Statutes

SECTION 45-2-5.1

   § 45-2-5.1  Westerly municipal land trust.– The town council of the town of Westerly is hereby authorized and permitted toexercise its discretion to transfer and convey certain real estate to theWesterly Municipal Land Trust, without monetary consideration, provided thatsuch real estate shall be of such character and condition as shall beappropriate of the purposes of said Land Trust, and provided further that suchreal estate shall be conveyed to said Land Trust with the express restrictionthat the same shall not be further transferred or conveyed to any other personor entity for value or otherwise, without the express approval of said towncouncil, and, in the event of a sale, all procedures for the sale of municipalreal estate shall be applied and the proceeds thereof shall be deemed theproperty of the town of Westerly.